How many times did the merchandise inventory turn over

Reference no: EM131975340

Problem

Selected financial information for Solomon Company for 2019 follows:

Sales $ 2,500,000
Cost of goods sold 1,750,000
Merchandise inventory
Beginning of year 154,000
End of year 200,000

Required

Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019?

Reference no: EM131975340

Questions Cloud

How the companys stakeholders will use financial statement : How the company's stakeholders will use financial statement information and ratio calculations to make key determinations related to the financial condition.

Company weighted average cost of capital : If Ebeling is subject to a 0.2 fraction corporate income tax, what is the company's Weighted Average Cost of Capital.

What portion of the firm is debt financed : A firm has issued $20 million in long-term bonds that now have 10 years remaining until maturity. The bonds carry an 8% annual coupon and are selling.

Price of nasonex in dollars in the united states : According to PPP what should be the price of Nasonex in Dollars in the United States?

How many times did the merchandise inventory turn over : Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019?

Calculate the value of the preferred stock : A firm has an issue of preferred stock outstanding that has a stated annual dividend of $4. The required return on the preferred stock has been estimated.

Find the amount of the cash flow to creditors : A firm has earnings before interest and taxes of $27,130, net income of $16,220, and taxes of $5,450 for the year. While the firm paid out $31,600.

Determining the college savings plan : Armin's wonderful parents established a college savings plan for him when he was born. They deposited $63 into the account on the last day of each month.

Determine should the firm accept the project : A firm evaluates all of its projects by applying the IRR rule. Year Cash Flow 0 -$ 159,000 1 57,000 2 82,000 3 66,000. If the required return is 15 percent.

User Account

All Pages